GVKPIL bags Guj road project

Infrastructure developer GVK Power & Infrastructure Limited (GVKPIL) has emerged as the preferred bidder for the six laning of the existing three lanes of the 101.9 km long Bagodara –Wataman – Tarapur – Vasad Road in Gujarat on a build, operate and transfer (BOT) basis.

According GVKPIL chief financial officer Isaac George, the project involves an investment of about Rs 1,000 crore. The concession period for the project is 27 years ,including a construction period of 2.5 years. The concessionaire will have the right to collect toll over the entire concession period starting from the commercial operations date of the project.

On completion of the concession period, the project will be handed over to Gujarat State Road Development Corporation Limited (GSRDC). GVKPIL said a total of 18 parties prequalified for bidding, of which 5 submitted their financial bids to GSRDC. The company has so far invested over Rs 10,786 crore in infrastructure projects and has Rs 25,000 crore worth of projects in the pipeline.